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American Industrialization American Industrialization (The Bad)(The Bad)
Monopolies and Work Conditions Monopolies and Work Conditions United States HistoryUnited States History
Mr. ChrestensenMr. Chrestensen
Analyze the cartoon:Analyze the cartoon:
The men’s shirts in back read “trusts”. Cartoon name, Bosses of the Senate
Industrial giantsIndustrial giants Andrew CarnegieAndrew Carnegie Poor immigrant Poor immigrant
from Scotlandfrom Scotland Built steel plant in Built steel plant in
PennsylvaniaPennsylvania Used the Bessemer Used the Bessemer
processprocess Vertical integrationVertical integration
Industrial GiantsIndustrial Giants John D. RockefellerJohn D. Rockefeller Ultimately, controlled Ultimately, controlled
90% of the oil 90% of the oil industryindustry
Standard Oil Co.Standard Oil Co. ““If you can’t beat If you can’t beat
‘em, join ‘em!”‘em, join ‘em!” HorizontalHorizontal via via trust trust
agreementsagreements Not legal Not legal mergersmergers
Industrial GiantsIndustrial Giants JP MorganJP Morgan ““House of Morgan”House of Morgan” Dominates the Dominates the
banking industrybanking industry Stocks and loansStocks and loans Cornelius VanderbiltCornelius Vanderbilt Swept up the RR Swept up the RR
industryindustry
Why the “Gilded Age”?Why the “Gilded Age”? --””Because the open display of wealth Because the open display of wealth
among American elite seemed like a among American elite seemed like a cheap picture frame- golden on the cheap picture frame- golden on the outside, but rotting on the inside.”outside, but rotting on the inside.”
-Mark Twain-Mark Twain Discussion: What would you do if you Discussion: What would you do if you
had enormous wealth?had enormous wealth? Carnegie’s Gospel of WealthCarnegie’s Gospel of Wealth :sign of :sign of
divine approval, yet, must be a divine approval, yet, must be a “trustee for his poorer brethren”.“trustee for his poorer brethren”.
Social DarwinismSocial Darwinism
Philosophers came Philosophers came up with this from up with this from Charles Darwin’s Charles Darwin’s theory of theory of “natural “natural selection”selection”
Economists use to Economists use to justify justify laissez fairelaissez faire
4000 new 4000 new millionaires, others millionaires, others lazy or weak!lazy or weak!
Fewer control moreFewer control more
Buying out competitors: Buying out competitors: monopolymonopoly Combining competing company’s Combining competing company’s
into huge businesses: into huge businesses: truststrusts Decisions in the hand of “trustees”Decisions in the hand of “trustees” Many used ruthless tacticsMany used ruthless tactics manipulationmanipulation Many paid low wagesMany paid low wages Anything to make a buck!Anything to make a buck!
Who were the “Who were the “Robber BaronsRobber Barons”?”?
The Sherman Antitrust ActThe Sherman Antitrust Act 18901890 Made it Made it illegal to form a trust that illegal to form a trust that
interfered with free tradeinterfered with free trade Difficult to prosecuteDifficult to prosecute
Corruption in business and Corruption in business and governmentgovernment
Hippocampus lessonHippocampus lesson
How most people livedHow most people lived
The middle class slowly grew, but The middle class slowly grew, but most Americans poormost Americans poor
1% (wealthy), had more wealth than 1% (wealthy), had more wealth than other 99% (poor) combined!other 99% (poor) combined!
Candlepower, no plumbing, wood Candlepower, no plumbing, wood stoves, crammed stoves, crammed tenement housingtenement housing
Tenement housing, NYCTenement housing, NYC
NYC: A modern city full of pluses NYC: A modern city full of pluses and minuses…and minuses…
The Story of Us DVDThe Story of Us DVDDVD: “Cities” Skyscrapers (19-24)
How most people workedHow most people worked
“Breaker Boys” and “Mill Kids”: Child Labor
How most people workedHow most people worked
A factory and a steel mill.
The rights of laborersThe rights of laborers
Hippocampus linkHippocampus link
Positives and Negatives of Big Positives and Negatives of Big BusinessBusiness
Big Business